By Ann Saphir and Michael S. Derby (Reuters) -Federal Reserve policymakers got a dose of unexpectedly strong U.S. economic data on Friday that bolstered the case for further monetary policy tightening to bring down persistently high inflation. Consumer spending surging 0.8% last month from March was good news in showing the economy is not on…
By Mike Scarcella (Reuters) – A U.S. judge on Thursday approved Apple Inc’s $50 million class-action settlement resolving consumer claims over certain defective MacBook keyboards, in a ruling that spurned challenges to the deal. U.S. District Judge Edward Davila in San Jose, California, federal court in his ruling called the settlement “fair, adequate and reasonable.”…
WASHINGTON (Reuters) – Treasury Secretary Janet Yellen spoke about the U.S. economy’s resilience in the face of global headwinds in a meeting Friday with International Monetary Fund (IMF) Managing Director Kristalina Georgieva, according to a Treasury Department statement. Yellen and Georgieva also discussed recent banking sector stress, the outlook for the U.S. economy as well…
By Timothy Gardner and Jarrett Renshaw WASHINGTON (Reuters) -A bill to boost power transmission between U.S. regions is being considered as part of talks between White House and congressional Republicans to raise the debt ceiling, two sources with knowledge of the talks said. The measure from Senator John Hickenlooper and Representative Scott Peters, both Democrats,…
By David Shepardson WASHINGTON (Reuters) -The Transportation Security Administration screened 2.658 million passengers on Thursday, the highest number since the beginning of the COVID-19 pandemic, as U.S. holiday travel got off to a smooth start. “So far so good,” Transportation Secretary Pete Buttigieg told CNBC on Friday. Despite the record travel Thursday “the system held…
By Abigail Summerville NEW YORK (Reuters) – Private equity firm Kelso & Co is exploring a sale of Augusta Sportswear Brands in a deal that could value the U.S. catalog seller of team sports uniforms and apparel at between $700 million and $800 million, including debt, according to people familiar with the matter. Kelso is…
By Naomi Rovnick LONDON(Reuters) – Experienced tech investors are hunting for undervalued opportunities in an over-valued space. At stake is how best to invest in the potential of Artificial Intelligence (AI), which took a leap forward in November when Microsoft-backed OpenAI released its ChatGPT bot, without buying into a bubble. Shares in Nvidia, which…
By Philip Blenkinsop BRUSSELS (Reuters) – The European Union faces a challenge to convince its members to relinquish authority over export controls as it aims to bring in an EU-wide system that would also monitor outbound investment, European Trade Commissioner Valdis Dombrovskis said on Friday. The European Commission intends to present its “Economic Security Strategy”…
By Guy Faulconbridge MOSCOW (Reuters) -A senior ally of President Vladimir Putin said on Friday the conflict in Ukraine could last for decades and that negotiations with Ukraine were impossible as long as Ukraine’s Western-backed President Volodymyr Zelenskiy was in power. Russia’s 2022 invasion of Ukraine has triggered the deadliest European conflict since World War…
By Rajesh Kumar Singh, Doyinsola Oladipo, David Shepardson (Reuters) -After two successive summers of travel chaos, U.S. airlines are going all out to prevent large-scale flight disruptions in the face of rising demand. Carriers have trimmed flight schedules, beefed up staffing, and invested in airport infrastructure and technology to be ready for the busiest travel…
